Planet Fitness (NYSE:PLNT) Shares Down 3.3%

Planet Fitness, Inc. (NYSE:PLNT - Get Free Report)'s stock price dropped 3.3% on Monday . The stock traded as low as $57.31 and last traded at $57.93. Approximately 654,093 shares traded hands during trading, a decline of 59% from the average daily volume of 1,598,245 shares. The stock had previously closed at $59.90.

Wall Street Analysts Forecast Growth

PLNT has been the subject of several research reports. Stifel Nicolaus reduced their price objective on shares of Planet Fitness from $85.00 to $80.00 and set a "buy" rating for the company in a research report on Friday, February 23rd. StockNews.com upgraded shares of Planet Fitness from a "sell" rating to a "hold" rating in a report on Friday, January 12th. Royal Bank of Canada increased their price target on shares of Planet Fitness from $74.00 to $80.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 5th. Piper Sandler increased their price target on shares of Planet Fitness from $88.00 to $89.00 and gave the stock an "overweight" rating in a research report on Thursday, January 11th. Finally, Morgan Stanley reduced their price target on shares of Planet Fitness from $83.00 to $79.00 and set an "overweight" rating for the company in a research report on Friday, February 23rd. Six research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Planet Fitness presently has a consensus rating of "Moderate Buy" and an average price target of $71.00.

Planet Fitness Price Performance

The company has a market cap of $5.15 billion, a P/E ratio of 36.68, a PEG ratio of 1.20 and a beta of 1.40. The stock has a 50-day moving average of $66.41 and a 200 day moving average of $62.91.

Planet Fitness (NYSE:PLNT - Get Free Report) last released its earnings results on Thursday, February 22nd. The company reported $0.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.58 by $0.02. The firm had revenue of $285.10 million for the quarter, compared to analysts' expectations of $282.35 million. Planet Fitness had a negative return on equity of 120.89% and a net margin of 12.91%. The business's revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.53 earnings per share. Sell-side analysts predict that Planet Fitness, Inc. will post 2.48 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. American Century Companies Inc. lifted its position in shares of Planet Fitness by 66.8% during the 3rd quarter. American Century Companies Inc. now owns 877,723 shares of the company's stock valued at $43,166,000 after buying an additional 351,401 shares during the last quarter. Graham Capital Management L.P. purchased a new stake in Planet Fitness during the 3rd quarter worth about $944,000. Diversified Trust Co raised its holdings in shares of Planet Fitness by 3.4% in the 4th quarter. Diversified Trust Co now owns 20,256 shares of the company's stock valued at $1,479,000 after acquiring an additional 659 shares in the last quarter. Bamco Inc. NY raised its holdings in shares of Planet Fitness by 20.0% in the 3rd quarter. Bamco Inc. NY now owns 1,200,000 shares of the company's stock valued at $59,016,000 after acquiring an additional 200,000 shares in the last quarter. Finally, Brandywine Global Investment Management LLC purchased a new stake in shares of Planet Fitness in the 3rd quarter valued at about $1,385,000. Institutional investors own 95.53% of the company's stock.

Planet Fitness Company Profile

Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness brand. The company operates through three segments: Franchise, Corporate-Owned Stores, and Equipment. The Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia.